Ways to maximize Social Security at 62 while married to younger spouse - veteran considerations?

Taking SS at 62 permanently reduces your benefit by about 30% compared to waiting until your Full Retirement Age (probably 67 for you). A few things to consider: 1. If your wife's own benefit would be less than half of your FRA benefit, she could get more through spousal benefits when she's eligible. But if you file early, her spousal benefit will also be reduced. 2. If you die first, your wife gets your actual benefit amount as a survivor benefit. Filing early means she gets a smaller survivor benefit for potentially many years. 3. Being a veteran doesn't directly increase your SS benefit, though military service before 2001 might have special wage credits that could slightly increase your benefit. 4. If you're still working, be aware of the earnings limit ($22,320 in 2025) - you'll lose $1 in benefits for every $2 you earn above that until you reach FRA. Have you considered filing a restricted application? Or maybe filing and suspending later?

my friend waited til 70 to get ss and gets wayyy more $ each month than his brother who took it at 62... like $1400 more every single month!!!! but who knows if youll even live til 70 right? bird in hand and all that

You're right to be thinking about this carefully. The "restricted application" strategy that was mentioned is no longer available for people born after 1954, so you probably can't use that. And "file and suspend" was eliminated in 2016. As a veteran, check if all your military service earnings are correctly reflected in your Social Security record. Log into my.ssa.gov and verify your earnings history. Military service before 2001 might have special wage credits that could boost your benefit. For married couples with an age gap, it often makes financial sense for the higher earner to delay benefits, especially if: - You have other income/savings to live on - You're in good health with family history of longevity - Your wife may rely on survivor benefits for many years If you absolutely need to file at 62, another strategy is to claim now but plan to repay all benefits within 12 months and withdraw your application. This gives you a "do-over" if your situation changes. Finally, have you looked into any VA benefits you might qualify for? These wouldn't increase your SS benefit but could improve your overall financial picture.

Just my 2 cents - everyones situation is different but I took SS at 62 and REGRET IT SO MUCH NOW. Im 67 and those checks would be way bigger if Id waited. Think hard about it!!

I spent THREE MONTHS trying to get through to Social Security to ask similar questions about my retirement options! Every time I called, I'd wait for hours and then get disconnected!!! Finally I found this service called Claimyr (claimyr.com) that got me connected to a real Social Security agent in under 20 minutes. They have a video showing how it works: https://youtu.be/Z-BRbJw3puU The agent I spoke with explained all the spousal and survivor benefit implications that come with filing early. There were several details specific to my situation that I never would have known without speaking directly to SSA. Definitely worth it to actually TALK to someone before making such a big decision.

OP, I was in almost EXACTLY your situation last year! 62, wife was 57, and I'm also a vet. I did a ton of research and here's what I learned: 1) Military service doesn't boost SS much unless you have disability 2) The BIGGEST factor is how long you expect to live. My family has longevity (90+) so I decided to wait. 3) My financial advisor ran the numbers and showed that waiting until 67 would give my wife much better survivor protection if I die first. Everyone's circumstances are different, but I ended up waiting, picked up part-time consulting work, and am drawing down some savings instead. The peace of mind knowing my wife will have a larger benefit if I go first was worth it for us. But if you NEED the money now or have health concerns, taking it at 62 makes perfect sense! Don't let anyone make you feel bad about claiming early if that's what works for YOUR situation.

my uncle worked for social security for 30 years and he always said never take it early unless ur really sick or broke!!! he said government designed it that way on purpose so people who dont need it will take it early and get less money

Since you're married with a younger spouse, you should definitely consider how your decision affects your total household benefits over both your lifetimes. Here's what most financial planners recommend for couples with age gaps: 1. The higher earner (usually the husband) should consider delaying benefits as long as possible, ideally to age 70. This maximizes not only his own benefit but also the eventual survivor benefit for his wife. 2. The lower earner might claim earlier, especially if they need the income. 3. For couples with significant age gaps (4+ years), this strategy becomes even more valuable since the younger spouse is likely to spend many years receiving survivor benefits. If you're in good health with longevity in your family, waiting can increase your monthly benefit by 77% (from age 62 to 70). That's a substantial difference that would benefit both you and potentially your wife for decades. That said, if you have health concerns or absolutely need the income now, taking it at 62 is perfectly reasonable. There's no universally "right" answer - it depends on your specific circumstances.

As someone who went through this exact decision process a few years ago, I want to emphasize one thing that often gets overlooked - the spousal benefit timing strategy. Even though your wife is 4 years younger, she can potentially claim spousal benefits on your record when she reaches 62 (if you've already filed). However, if you file early at 62, her spousal benefit will be based on your reduced amount, not your full retirement age benefit. Here's something to consider: if you can afford to wait even just until your Full Retirement Age (probably 67), your wife would eventually get 50% of your unreduced benefit as a spousal benefit, plus she'd get your full unreduced benefit as a survivor benefit if you pass first. Given that women typically live longer than men, this could mean tens of thousands of additional dollars over her lifetime. I know it's hard to think about, but run the numbers on total lifetime benefits for both of you combined. You might be surprised how much waiting just 5 years (from 62 to 67) could benefit your household in the long run. The Social Security Administration has calculators that can help with this analysis. That said, if you have pressing financial needs now or health concerns, claiming at 62 is still a valid choice. Just make sure you're making an informed decision with all the facts!

As a newcomer here, I've been reading through this discussion with great interest since I'm facing a similar decision in a few years. What strikes me most is how much the spousal and survivor benefit considerations seem to outweigh the individual benefit calculations when you're married with an age gap. @Paolo, have you considered doing a break-even analysis that includes your wife's potential benefits? It seems like everyone is focusing on when YOU break even, but the real calculation might be when your HOUSEHOLD breaks even on total lifetime benefits. With a 4-year age gap and women's longer life expectancy, your wife could potentially receive survivor benefits for 15-20+ years. Also, I'm curious - you mentioned you have "reasons" for wanting to take it early. Are those reasons health-related or financial necessity? Because if it's more about wanting the security of guaranteed income vs. market volatility with retirement accounts, there might be other ways to address that concern while still optimizing your Social Security strategy. Thanks for sharing your situation - it's really helping me think through my own planning!